FTM soars by 10% after Fantom integrates with Ledger Live

  • FTM has been the best performer amongst the top 100 cryptocurrencies by market cap in the last 24 hours.

  • The rally comes after Fantom announced its integration with Ledger Live. 

  • FTM could rally toward the $0.270 resistance level in the near term.

Fantom integrates with Ledger Live

FTM, the native token of the Fantom blockchain, is the best performer amongst the top 100 cryptocurrencies by market cap so far today. It has added 10% to its value in the last 24 hours. 

The rally comes after the Fantom Foundation announced that Fantom had integrated with Ledger Live. 

Ledger is one of the leading hardware wallet manufacturers in the cryptocurrency space. This latest cryptocurrency news means that users can now send, receive and view their FTM directly through the Ledger Live app.

The broader crypto market has been performing well since its poor start to the week. The total crypto market cap is now above $850 billion after adding 2% to its value over the last few hours.

Bitcoin is also up by more than 2% in the last 24 hours. At press time, the price of Bitcoin stands close to the $17k resistance level. 

Key levels to watch

The FTM/USD 4-hour chart is bullish, as Fantom has been performing well in the last few days. Technical indicators show that FTM is outperforming the broader cryptocurrency market.

With the MACD line above the neutral zone, bulls are currently in control of the Fantom market. Furthermore, the 14-day relative strength index (RSI) of 84 indicates that FTM is very close to entering the overbought zone.

At press time, FTM is trading at $0.2395 per coin. With the bulls still in charge, FTM could surge past the $0.270 resistance level in the coming hours. 

However, FTM would need the support of the broader cryptocurrency market to break past the $0.30 resistance level for the first time in nearly one month. 

Where to buy Fantom now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy FTM with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy FTM with OKX today

The post FTM soars by 10% after Fantom integrates with Ledger Live appeared first on CoinJournal.

Is Crypto.com token about to claim another yearly low?

  • Crypto.com token has been hit by confidence crisis post-FTX collapse

  • Massive withdrawals were reported on Crypto.com earlier this month

  • The toke trades at the lowest in the year and could fall further

It has been a low moment for crypto firm and exchange-related tokens. A prolonged crypto winter has brought a wave of liquidity crisis for most tokens. The latest FTX exchange collapse sent shock waves across the sector. For an exchange that was once ‘secure,’ investors may have learned the hard way. Crypto.com (CRO/USD) is one cryptocurrency that has suffered in the aftermath.

CRO traded at $0.0638, a yearly low. Despite holding to the level for the past two weeks, the cryptocurrency was trading with falling momentum. That comes even as the crypto exchange saw massive investor outflows, days after the collapse of FTX. Crypto.com created “proof of reserves” dashboards post-FTX saga, but that did not soothe investors.

As a confidence crisis sweeps across the crypto sector, it may take time before CRO recovers to its former self. A technical outlook shows that a new yearly low is on the horizon if buyers do not arrest the falling momentum.

CRO is under pressure at a key consolidation area

CRO/USD Chart by TradingView

The daily chart outlook shows CRO on a downward momentum. Pressure is mounting at $0.06, an area the cryptocurrency has been holding for a while now. The RSI is slightly above the oversold level.

A new bottom for CRO?

A prolonged consolidation at $0.06 gives hope that CRO could initiate a recovery. However, with the price remaining under pressure, the cryptocurrency may touch a new low. 

If the price continues lower, $0.057 is the new low to watch. A recovery above $0.075 could ignite a further recovery in the token.

Where to buy CRO

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy CRO with Skilling today

CoinEx

Founded in December 2017, CoinEx is a global and professional cryptocurrency exchange service provider. CoinEx supports multiple languages and are providing global trading services in nearly 100 countries/regions.

Buy CRO with CoinEx today

The post Is Crypto.com token about to claim another yearly low? appeared first on CoinJournal.

Is selling now overdone for the Compound token?

  • The Compound token has been stable after a bear market

  • Prolonged crypto winter and liquidity issues facing crypto firms remain a threat

  • COMP token could accelerate weakness if buying strength remains weak

The Compound token (COMP/USD) looked poised for a sustained recovery in June. Since recovering from the June bottom price of $26, the token remained bullish, hitting $70 in August. Since then, weaknesses have brought the token down to $37. However, for 3 weeks, the cryptocurrency has been trading at the same level. We investigate if it’s worth calling for a buy trade at the crucial zone. But first, why has COMP been unable to replicate gains?

The Compound is a decentralised protocol that makes it possible to lend and borrow crypto. In other words, Compound takes away the role of middlemen in traditional finance. It allows financial services through smart contracts and in a decentralised manner. Coupled with the backing of the Ethereum blockchain, Compound grew as an important DeFi project.

A liquidity crunch impacting crypto firms has slowed the growth of DeFi and leading blockchains in the sector. The latest to fall victim in the sector is BlockFi. The once-popular crypto lender filed for bankruptcy on Monday. BlockFi joins the growing list of Voyager, Celsius, Three Arrows Capital, and FTX, which have faced bankruptcy.

The latest development may not be good cryptocurrency news for protocols such as Compound. Its native token, COMP, is consolidating ahead of the next move.

COMP battling $43 resistance amid price consolidation

COMP/USD Chart by TradingView

Technically, COMP is consolidating in a bear market. The cryptocurrency lost the $43 level, which has now become a resistance zone.

The moving averages are bearish for the cryptocurrency and offer resistance above.

What next for COMP?

While consolidation at $35-$37 suggests that bears are getting exhausted, it does not signal a buyer’s activity. The cryptocurrency lacks the upside, with the resistance and moving averages above a stumbling block.

For the COMP price to go higher, the cryptocurrency must recover above $43. Otherwise, the June lows of $26 remain in sight.

Where to buy COMP

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy COMP with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy COMP with OKX today

The post Is selling now overdone for the Compound token? appeared first on CoinJournal.

Should you buy Polkadot’s DOT at $5?

  • The Polkadot token has defended $5 for weeks

  • The ecosystem has witnessed an increase in activity

  • The token could remain vulnerable as longer-term momentum is still bearish

Polkadot (DOT/USD) trading at $5 would have been a false dream in November 2021 as it touched $55 ATH. But that is now the reality of the token of once a booming protocol labelled a Layer 0 blockchain. In case you are wondering, why Layer 0?

Polkadot was designed to operate at a deeper level compared to Layer 1 protocols like Solana and Ethereum. The brainchild of Gavin Wood, the Ethereum co-founder, provides the foundation for building other crypto projects. Polkadot was thought of as a new system that could allow different blockchains to interact. Polkadot also maintains the security of each separate blockchain built on it, called parachains. To sum it up, a Layer 0 blockchain acts like a foundational system of Layer 1 protocols.

The promise of cross-chain interoperability boosted Polkadot’s native token. It has not been the case this year, as lower crypto activity has pushed its native token back to a single-digit price. Nonetheless, as CoinJournal reported, activity is building on the Polkadot ecosystem. That has allowed DOT to defend $5 for several weeks. To an investor, does it make sense to scoop it at a low level?

DOT on a downtrend amid stability at $5

DOT/USD Chart by TradingView

On the daily chart technical outlook, DOT maintains a long-term bearish momentum. The cryptocurrency broke below a minor support zone at $5.5. The minor level could still pose a resistance to the bulls.

The MACD indicator remains bearish. However, the bear momentum has slightly improved, implying that buyers have increased at the $5 level.

What next for DOT?

DOT price could remain subdued as the token remains in bear momentum. With the overall bear market staying put, it would be premature to buy DOT now.

Nonetheless, DOT needs to recapture minor support at $5.5 to consider a short-term price appreciation. For a longer-term move, the token must regain the $6.5 level. Otherwise, DOT will remain vulnerable to $4.5.

Where to buy DOT

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy DOT with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy DOT with OKX today

The post Should you buy Polkadot’s DOT at $5? appeared first on CoinJournal.

How is the Utility Token, Metacade (MCADE), Different from that of Aave (AAVE) and Enjin (ENJ)?

With such a huge variety of cryptocurrency tokens around, working out which one to choose can be confusing. With a lot of talk about the potential of the MCADE token on the Metacade platform, it’s worth considering how this could revolutionize metaverse gaming. We can then see how it compares to the AAVE and ENJ tokens. 

Metacade – A Top Investment Opportunity 

Metacade is more than a metaverse project, it’s a community-driven gaming hub with many monetization opportunities. This makes the platform’s native MCADE token a good diversification option for crypto investors. Metacade’s ingenious blend of the metaverse, play-to-earn gaming, and community activity makes its MCADE token a stand-out investment opportunity. 

To understand the opportunity it presents, consider the upcoming presale of MCADE. With 1.4 billion tokens that start at just $0.008 before rising to a cost of $0.020, the launch of the MCADE token is designed to reward those investors who recognize its potential and get involved early. To fully understand the future prospects of Metacade, let’s compare it with a couple of other tokens and see how it differs from and improves on their models.

AAVE and ENJ holders are starting to invest in Metacade

The Metacade project has attracted interest from many investors, including those who’ve already held the likes of AAVE and ENJ tokens. Here’s why.

Aave is an open-source liquidity protocol that allows users to deposit their assets, stake, and borrow. The AAVE token is also used by the community to vote on the decisions that affect them. It’s currently sitting at over $85 and has reached as high as $666 at one point.

ENJ is the token used by the Enjin protocol, which was set up in 2009 to help the gaming community. It’s a ERC-20 token on the Ethereum blockchain, which can be earned by playing games and used to pay for items on gaming platforms. This price history in this case is more modest with a maximum of over $4.85 and a current value of just under $0.50.

While these tokens have gained a degree of popularity, the arrival of the Metacade project has given these Aave and Enjin holders another option to consider adding to their portfolios. 

What is Metacade? 

Metacade is an innovative new metaverse project that gives players access to immersive arcade games and gives them a sense of ownership over the space. As a platform that brings together like-minded gamers, crypto investors, and developers in real time, we can expect Metacade to be a huge part of the metaverse.

While a lot of projects in Web3 are focused on only one or two game titles, Metacade is offering players a whole arcade to enjoy. Here they can take part in play-to-earn gaming and connect with developers to create new games that people actually want to play!

As part of a Web3 community and metaverse gaming hub, the tokenomics model encourages a self-sustaining ecosystem via the native coin MCADE. With MCADE, users decide on what games get developed and what the future of Metacade looks like. To earn additional income, users can also stake their tokens, get involved with game testing and be rewarded for community engagement. Metacade will also reward game developers with Metagrants, a source of funding, to create games for the platform. 

A supply of 1.4 billion MCADE tokens is being offered in the presale. The lower initial price is set to reward investors for getting on-board at this early stage and look for the price to rise over time. The revenue generating model is then designed to keep the profits ticking over and help the token to rise in value as its demand increases.

Will Metacade surpass AAVE and ENJ?

It can be difficult to predict what happens next in the cryptocurrency scene and impossible to guarantee a token will reach a certain value.  However, what we can determine is whether a new project provides the potential that could see its value rise to overtake other tokens on the market.

With Metacade, the buzz that’s building around the presale makes it seem that it will hit the ground running. A look at the roadmap for this project shows that the next few stages are clearly marked, with the presale at the end of 2022 to be followed by the token being listed on various top exchanges in early 2023. Looking at all that, eyes are glued on MCADE as it could shoot past AAVE and ENJ.

Is Metacade a long-term investment?

Metacade is a token with a solid concept, sturdy ecosystem, and dedicated team behind it. Despite the crypto market taking a downturn in 2022, there are still metaverse projects, like Metacade, that have solid future prospects, making them wise long-term investments.

In the case of Metacade, the developers have designed a clever combination of metaverse, gaming, and cryptocurrency investment all in one place. As the web3 community grows and people become more comfortable with the virtual world, interest in these activities is only set to increase and turn Metacade into a go-to metaverse hub of the future.

It’s worth bearing in mind that digital currencies can be worthwhile in a number of ways, from beating inflation to diversifying an investment portfolio. With the world currently being gripped by all sorts of political uncertainty and financial upheaval, it’s easy to see why people are turning to these tokens as a sort of safe haven for their money. In terms of Metacade specifically, the model employed seems certain to help the MCADE token to grow in strength and value once it’s listed on the main exchanges in early 2023.

Should I buy Metacade, AAVE, or ENJ?

These three tokens all do different things and have different evangelists. By taking a macro view of their functions and the current ecosystem surrounding them, we can say that the Metacade metaverse gaming project is currently most highly recommended for investment. It provides a better ecosystem and a fresh approach, while the AAVE and ENJ coins have both failed to live up to their early promise. 

The strong community aspect, key partnerships, and incentives mentioned in their white paper suggest that MCADE should get off to a strong start once launched. Early investors will be hoping to see their presale purchase immediately give them a return once it’s listed on the major exchanges. 

Is Metacade worth buying?

All the information out there points towards an answer that says Metacade is a highly recommended purchase for several powerful reasons.

The cryptocurrency market could be set to bounce back from a difficult few months and it’s certain that the strongest projects continue to be backed heavily by savvy investors. Metacade falls into that category because of the exciting combination that it offers of the metaverse, arcade gaming, and a token with excellent earning potential.

With a presale that starts with tokens at just $0.008 before gradually ramping up the price, this is a worthwhile project that is turning a lot of heads and is well worth getting involved in before the price shoots up.

You can participate in the Metacade pre-sale here.

The post How is the Utility Token, Metacade (MCADE), Different from that of Aave (AAVE) and Enjin (ENJ)? appeared first on CoinJournal.